Teacher Retirement System of Texas Lowers Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Teacher Retirement System of Texas lessened its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 84.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,640 shares of the industrial products company's stock after selling 1,167,385 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of Tetra Tech worth $6,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TTEK. Sarasin & Partners LLP purchased a new position in Tetra Tech in the 1st quarter worth $144,799,000. Norges Bank bought a new stake in Tetra Tech in the 4th quarter worth $121,390,000. Jacobs Levy Equity Management Inc. grew its holdings in Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock worth $90,329,000 after acquiring an additional 2,019,295 shares during the last quarter. Bain Capital Public Equity Management II LLC grew its holdings in Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after acquiring an additional 1,443,939 shares during the last quarter. Finally, Capital International Investors bought a new stake in Tetra Tech in the 4th quarter worth $43,895,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Maxim Group lowered shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird boosted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, KeyCorp boosted their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of "Hold" and a consensus price target of $41.00.

Tetra Tech Stock Down 2.4%

Shares of Tetra Tech stock opened at $35.72 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $9.41 billion, a PE ratio of 51.91 and a beta of 0.94. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a 50-day simple moving average of $34.79 and a two-hundred day simple moving average of $33.94.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The business's revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. On average, analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 23rd. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio (DPR) is currently 37.68%.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

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